What is NAFTA? NAFTA is a free trade agreement that was signed by The United States, Canada and Mexico in 1994. 'NAFTA' is an acronym for 'North American Free Trade Agreement', and it is the largest free trade agreement in the world. NAFTA removed tariffs on imports and exports between the three countries and while many American manufacturing jobs were lost to cheaper Mexico, economic growth and trade has increased in all three countries and prices on goods have dropped. NAFTA, while having its pros and cons, is still a vital part of trade between the U.S., Canada and Mexico.
NAFTA in the past NAFTA has not changed much over the years, but there are a few differences between NAFTA of the past and NAFTA today. NAFTA has always been controversial, but somewhat less in the past than it is today with Trump. NAFTA was very controversial before it had been founded but ultimately turned out to not be as drastic as some thought. It is only now that it is really starting to get controversial again. Other than that, little has been done to change NAFTA over the years. NAFTA was not much different in the past than it is now.
Cons of NAFTA While NAFTA has many pros, it has many significant cons as well. NAFTA led to the loss of 500,000 to 750,000 jobs in the U.S., mainly in the manufacturing industry. This is because many companies in the manufacturing industry moved to Mexico because labour is much cheaper there. NAFTA also put many Mexican farmers out of business because more American farm products were brought into Mexico. Local farmers often could not compete with the lower prices of these products. Lastly, the influx of Mexican workers meant that more of them were exploited, which is not good. NAFTA has many advantages but also many disadvantages and is ultimately very controversial.
Bibliography: Amadeo, Kimberly. “6 Pros and Cons of NAFTA.” The Balance, www.thebalance.com/nafta-pros-and-cons-3970481.Amadeo, Kimberly. “What Does NAFTA Do?” The Balance, www.thebalance.com/nafta-definition-north-american-free-trade-agreement-3306147.Foreign Affairs and International Trade Canada, and Nafta. “North American Free Trade Agreement.” North American Free Trade Agreement | NAFTANow.org, 1 Apr. 2008, www.naftanow.org/. Josephson, Amelia. “The Pros and Cons of NAFTA.” SmartAsset, 3 Feb. 2017, smartasset.com/mortgage/the-pros-and-cons-of-nafta.
NAFTA II
What is NAFTA?
NAFTA is a free trade agreement that was signed by The United States, Canada and Mexico in 1994. 'NAFTA' is an acronym for 'North American Free Trade Agreement', and it is the largest free trade agreement in the world. NAFTA removed tariffs on imports and exports between the three countries and while many American manufacturing jobs were lost to cheaper Mexico, economic growth and trade has increased in all three countries and prices on goods have dropped. NAFTA, while having its pros and cons, is still a vital part of trade between the U.S., Canada and Mexico.
NAFTA in the past
NAFTA has not changed much over the years, but there are a few differences between NAFTA of the past and NAFTA today. NAFTA has always been controversial, but somewhat less in the past than it is today with Trump. NAFTA was very controversial before it had been founded but ultimately turned out to not be as drastic as some thought. It is only now that it is really starting to get controversial again. Other than that, little has been done to change NAFTA over the years. NAFTA was not much different in the past than it is now.
Cons of NAFTA
While NAFTA has many pros, it has many significant cons as well. NAFTA led to the loss of 500,000 to 750,000 jobs in the U.S., mainly in the manufacturing industry. This is because many companies in the manufacturing industry moved to Mexico because labour is much cheaper there. NAFTA also put many Mexican farmers out of business because more American farm products were brought into Mexico. Local farmers often could not compete with the lower prices of these products. Lastly, the influx of Mexican workers meant that more of them were exploited, which is not good. NAFTA has many advantages but also many disadvantages and is ultimately very controversial.
Additional Links:
1. https://www.youtube.com/watch?v=-cjwkt0bpAw
2. http://smallbusiness.chron.com/north-american-trade-agreement-pros-cons-3847.html
Bibliography:
Amadeo, Kimberly. “6 Pros and Cons of NAFTA.” The Balance, www.thebalance.com/nafta-pros-and-cons-3970481. Amadeo, Kimberly. “What Does NAFTA Do?” The Balance, www.thebalance.com/nafta-definition-north-american-free-trade-agreement-3306147.Foreign Affairs and International Trade Canada, and Nafta. “North American Free Trade Agreement.” North American Free Trade Agreement | NAFTANow.org, 1 Apr. 2008, www.naftanow.org/. Josephson, Amelia. “The Pros and Cons of NAFTA.” SmartAsset, 3 Feb. 2017, smartasset.com/mortgage/the-pros-and-cons-of-nafta.